• General
  • Crypto Currency - Believers Only

Somewhere up thread wally said something to the effect of ‘everybody will get paid’. I’m intrigued to know how that works because the way I see it is that the last people to pile in will get fucked. Proper fucked. Like the hare. You cannot have a situation where everybody gets paid. It does not work like that. In fact the whole point of bitcoin is a static number of final coins precisely to avoid that. So the profit made by some, by definition has to be the losses of others.

Can you be a bit more specific with whatever I said please B?

The idea of bitcoin is a limited number of coins for enforced scarcity but when they do stop being ‘minted’ in 8 years or so the idea is that the network is so prevalent that transaction fees are enough to keep miners powering the network.

    Other networks are under no obligation to use a limited number of coins of course. Some don’t.

    Wally “After all, if it ramps up the price, everyone gets paid ” - that is logically impossible, The people getting ‘paid’ in fiat currency do win, but those doing the paying lose out. Sure if it keeps going up then everybody wins. But that is not possible, at some point the fiat currency will run out. The music stops and somebody is without a chair

    Dunno where I said that tbh mate. Reply to the post maybe?

    By ‘everyone’, I meant people invested in the digital currency. Supply and demand. The more people who invest, the higher the price goes. Hence, a welcoming comunity keen to assist people.

    Still not quite sure what you’re getting at here. The people who sold the coins lose out? How’s that any different from any stock? There’s a finite supply of coins so it can’t keep rising forever? Fiat currency is finite and all newly issued fiat currency is future debt.

    Can anyone explain what ‘Smart Contracts’ are in layman’s terms?

      Old-Dutch Did you verify yourself and use faster payments to deposit or did you just use a card? Having problems verifying my ID and people on reddit are saying it can take weeks :S

        LT42 They are essentially a contract written in code or a programming language.

        Once created they cannot be changed or manipulated.

        For example in a simple escrow function, currency is deposited and is only released if certain criteria is met, such as a date has past, or currency has been added to a specific account etc.

        They are mathematical contracts that are financial instruments. In WEB 3.0 you browser interacts with the blockchain using smart contracts or dApps.

        • LT42 replied to this.

          mono-stereo

          Yes, this was a ball-ache. I deposited £200 in GBP and then bought a couple of currencies I could with that before transferring those to other currencies. I have absolutely no idea what I am doing - BUT I FUCKING LOVE IT

          Hursty Hursty must be rolling in it if he’s got an FT subscription.

          Made 4 quid from SPE so far. Bask in my reflected glory Jaded Clubbers!

          • Amps replied to this.

            Money printer goes brrrrrrrr

            Amps

            Everything on iphone here and remembering I’m a noob at this so there’s probably steps you can cut out.

            1) Set up Binance
            2) Buy BNB coins on binance.
            3) Set up Trust Wallet
            4) Send BNB coins to trust wallet.
            5) Swap BNB coins for Binance Smart Chain tokens.
            6) Go to Pancake Swap in the Trust Wallet App. (There’s a hidden option to go to a browser you need to activate - I found this vid to be helpful: on how to activate it)
            7) Connect your wallet in Pancake Swap
            8) Convert your Binance Smart Chain coin (confusingly they appear as BNB in Pancake swap) to SPE tokens. (you’ll need to copy the ‘Token address’ from the reddit page below - it will recognise it once you’ve entered it though and bring up SPE)
            9) Your transaction will probably fail - you need to set your transaction options to an hour time out and 12% slippage to get it to go through.

            HTH.

              Bloke at work has just had an email reminding him he bought a single bitcoin in 2012. Which he did. And had forgotten about.

              Damn those magic beans.

              • Amps replied to this.

                My FOMO of $ASS got the better of me so I have went out and purchased some $ASS.

                  Lasersight To buy memecoins you need a wallet such as metamask or trust wallet. You then connect pancakeswap to the wallet. You then find the contract id to swap between coins using coinmarketcap or coingecko.
                  You will need to increase the slippage to 11%.
                  There is an issue with pancakeswap as they are changing their liquidity pool from v1 to v2.

                  What a time to be alive!

                  Wally Fuckin fuck! What a ball ache that little lot is 👎️ Can’t wait for it to not work on my OS / hardware / browser / region / colour of socks

                    benson £40k not bad, does he still have the key / password etc?

                      Amps Got to agree tbh - it’s one of the areas that crypto really needs to up it’s game and standardise.

                      Amps lol - yes, exactly the same - just replace SPE with ASS.

                      • Amps replied to this.

                        Hursty Seems my $ASS has went a bit droopy since purchase. 🙁

                        Wally I’m willing to do a lot for ASS, but that might be asking a bit much, especially when you don’t know how good ASS is gonna be.

                        Amps he’s trying to sort. But yes. I think so.

                        git.

                        Ethereum flipped Visa by market value overnight. I’m sure Visa are loving that.